Women ‘could lose thousands from pension for failing to claim child benefits’

Women could lose thousands of pounds from their pensions for failing to claim child benefit, the Independent reports.

Many mothers who leave work to care for their children are unaware that by allowing male partners to claim the benefit for children under 12, they will not receive a national insurance credit, thereby losing some of their pension rights.

If a woman fails to claim the child benefit for a decade, it could cost them £2,500 per year during retirement.

The issue has arisen following the implementation of taxation of child benefit for high earners, which was brought in by David Cameron’s government in 2012.

Government figures show that since this change was introduced, the proportion of new claims made by men has risen from around 16% to 20%.

Former Liberal Democrat Minister Steve Webb, who is now Director of Policy at Royal London, told the publication: “If the stay-at-home parent is not getting child benefit, then they don’t get these credits.

“HM Revenue and Customs has admitted that this is an issue for hundreds of thousands of families, yet has failed to take action to address this issue.”